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What information is required for foreign payment initiation

Name, address and account number of beneficiaryWhen making a payment to the beneficiary’s account opened in the bank which is located in European Union, account number must be IBAN (International Bank Account Number) In case of other countries, it might be different as each country has their own rules and standards.

In the absence of the beneficiary’s name and address, the beneficiary's bank may refuse to execute the incoming payment.

Payment typePayment type provides an opportunity to determine how fast the bank will execute the payment. There is possible to choose between three options - normal, urgent or extra urgent, depend on payment currency. If the payment type is not specified, it is considered to be normal.

Beneficiary's bank code - SWIFT/BICBIC (Bank Identifier Code) or SWIFT-code is an 8- or 11-digit combination of letters and numbers which serves to identify a credit institution. You can check a BIC/SWIFT code from the public register of SWIFT/BIC codes (www.swift.com).If you fail to specify the beneficiary’s bank SWIFT/BIC, the bank may deduct an additional fee specified in the pricelist of the bank for manual processing of the payment order.

Details of paymentYou need to indicate the purpose of the payment. It should be a specific and short text, not more than 140 characters.

Type of Service feeDepend on type, the service fees will be deducted from your account according to the valid price list. The distribution of expenses depends on the agreement between the payer and the beneficiary. The following options are available:- SHA – the payer will pay the Danske Bank’s fees for the international payment order; the beneficiary will pay the charges of the foreign bank.- OUR – the payer will pay all the charges for the international payment order, both Danske Bank’s charges and the charges applied by the foreign bank. In this case the beneficiary receives the entire amount of the transfer. - BEN – the beneficiary will pay all the charges for the international payment order, both Danske Bank charges and the charges applied by the foreign bank. Therefore the beneficiary does not receive the full amount transferred.

It is not necessary to specify the correspondent bank of the beneficiary’s bank (except for payments in RUB).

Danske Bank will select an optimal correspondent bank of the beneficiary’s bank. If the customer specifies the correspondent bank, Danske Bank will process the payment order according to the customer’s request. Please note, that if the correspondent bank is specified incorrectly, foreign bank may return the amount transferred or charge in addition for the payment order. When specifying the correspondent bank of the beneficiary’s bank, the SWIFT BIC of the beneficiary’s bank must be specified. In the event of failure to specify the SWIFT BIC of the beneficiary’s bank, Danske Bank may deduct an additional charge as specified in the pricelist of the bank for manual processing of the payment order.

Beneficiary bank details- The bank’s BIK code (9 digits). SWIFT BIC does not need to be specified- The correspondent bank account number (20 digits starting from digit 3; the last three digits of the correspondent account must coincide with the last three digits of the BIK code)- The full name and address of the beneficiary's bank

Beneficiary details:- The beneficiary’s INN number (if the beneficiary is a legal entity, the number consists of 10 digits; if the beneficiary is a private person, the number consists of 12 digits)- If the beneficiary is a private person –name, surname and father’s name must be specified.- The beneficiary’s bank account number – 20 digits starting from digit 4.

Payment purpose- VO (currency operation) code that usually consists of 5 digits. See the list of VO codes.- Exact payment purpose – the number and date of the contract or the number and data of the invoice.

Bank executes the payment orders in accordance to data received from customer. Be careful that all of the information listed below can be provided for bank in order that the payment can be executed without any delay and error. If needed ask additional information from your counterparty.

Revocation

A customer may submit a request to cancel an international payment order after the order has been submitted to the bank.

If the amount of a payment transaction has not been transferred to the beneficiary’s bank or the intermediary bank – Danske Bank will re-credit the payment amount to the payer’s account.

If the payment order has already been transferred to the payee’s bank or the intermediary bank – Danske Bank is able only to recall the payment and will return the payment amount to the payer only after the payment is returned and refunded to the bank. Danske Bank takes no responsibility for the actions taken by the intermediary bank or the beneficiary's bank for cancellation of payment orders and return of the transferred amount.

Investigations and amendments

The payer may ask to investigate the payment status or provide revised information for the payment order (except for the information on the amount and currency). If the payment has been already debited from the correspondent account, Danske Bank will inform the intermediary bank about the case, but the result of the revision will be under beneficiary’s bank consent.

An application of request to revoke, amend or investigate a foreign payment may be submitted at Danske Bank's office or via Danske eBank.

You are always welcome to contact us if you have questions about how we process personal data. You can contact our Data Protection Function, Holmens Kanal 2-12, 1092 København K, Denmark, or by email: DPOfunction@danskebank.com